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  • #5,701
  • Dec 14, 2011 12:58pm Dec 14, 2011 12:58pm
Quoting FelixFX
yes I took long and short. 1 sl and 1 BE. Missed the NY
Just curious, how are you placing the trade - do you have more than one account, and you place them at the same time?

Also - are you just entering the two trades right away, as soon as the market opens, or are you watching for 2-pip movement somehow?
  • #5,702
  • Dec 14, 2011 1:27pm Dec 14, 2011 1:27pm
Quoting rtrs111
So probably you watched the candles price (bid price)? Because based on the ask price that I used, I was like less than half a pip in profit then stopped immediately (used 0.8 + spread). Had I used bid price (bid didn't go 2 pips up) I would have had a winner today. Anyway, I guess like you said, it's important to define this so we're all on the same page (also for the backtests).
History data contains only the ask price so probably that's what we should only use.
r u ready?
  • #5,703
  • Dec 14, 2011 3:24pm Dec 14, 2011 3:24pm
Quoting SmartGXL
Just curious, how are you placing the trade - do you have more than one account, and you place them at the same time?

Also - are you just entering the two trades right away, as soon as the market opens, or are you watching for 2-pip movement somehow?
no I entered at 08:00:01 both directions. 1long,1short. I dont know if this can be profitable. we will see
Poshcom
  • #5,704
  • Dec 14, 2011 6:05pm Dec 14, 2011 6:05pm
Quoting FelixFX
no I entered at 08:00:01 both directions. 1long,1short. I dont know if this can be profitable. we will see
What broker are you trading with? I trade at Oanda here in the US and they will not let you do that in one account, I would have to do it in two different accounts at the same time.
  • #5,705
  • Dec 15, 2011 2:12am Dec 15, 2011 2:12am
+20 on the London Open! (Went Short)
  • #5,706
  • Dec 15, 2011 2:22am Dec 15, 2011 2:22am
Hi all and everyone!

My first trade with this system, quick +6 pips, little bit late entry. I was so freaked out that i forgot to move my SL to BE. This trade went to about +20 pips without me... I realised that if there is round number near London/NY open (like today) there is higher % of big move. Check it out guys!
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  • #5,707
  • Dec 15, 2011 5:48am Dec 15, 2011 5:48am
Hey smart gxl , you can go long / short with oanda with limit orders just place buy / sell 8 ticks away from the open london
  • #5,708
  • Dec 15, 2011 7:06am Dec 15, 2011 7:06am
-2 on the NY Open.
  • #5,709
  • Dec 15, 2011 7:10am Dec 15, 2011 7:10am
FAIL at NY Open. Re entered this trade in opposite direction, FAIL again -4....
Shit happens...
  • #5,710
  • Dec 15, 2011 7:14am Dec 15, 2011 7:14am
Quoting monikroc
Hey smart gxl , you can go long / short with oanda with limit orders just place buy / sell 8 ticks away from the open london
This is true, but I am not sure what you are suggesting, do you mean that I just place the limit orders right at the Open, and when one activates, just cancel the other?
  • #5,711
  • Dec 15, 2011 7:15am Dec 15, 2011 7:15am
Quoting Lukaszmiami
FAIL at NY Open. Re entered this trade in opposite direction, FAIL again -4....
Shit happens...
If the trade fails, even if it feels like it never had a fighting chance, then just wait until the next Open, do not risk money again, preserve your capital and wait to fight another day...
  • #5,712
  • Dec 15, 2011 7:15am Dec 15, 2011 7:15am
Yes that is correct smart gxl.............
  • #5,713
  • Dec 15, 2011 7:21am Dec 15, 2011 7:21am
I'd like to say that i'm playing on real account so it hurts But today London open gave me a lot of motivation!

And thanks guys for advice, tomorrow is another day.

At NY open i forgot about one rule...STICK TO THE RULES.

Best wishes!
  • #5,714
  • Dec 15, 2011 8:22am Dec 15, 2011 8:22am
Quoting SmartGXL
-2 on the NY Open.
I went short at NY open, moved to BE then stopped out, I used 1.7 SL + spread.
r u ready?
  • #5,715
  • Dec 15, 2011 10:52am Dec 15, 2011 10:52am
Quoting rtrs111
I went short at NY open, moved to BE then stopped out, I used 1.7 SL + spread.
You know, its funny, because I noticed that I *should have* broken even as well! But what happened for me, was the market moved so fast that by the time I saw that the market was moving south, the market had moved another pip or two, so I got stopped out a minute or two later, when in reality, if I had gotten in earlier, it would have been a break even trade.

So, I am probably going to use the suggestion to just enter orders so that orders are executed exactly by the broker!
  • #5,716
  • Dec 15, 2011 10:55am Dec 15, 2011 10:55am
Quoting monikroc
Hey smart gxl , you can go long / short with oanda with limit orders just place buy / sell 8 ticks away from the open london
I had thought of this as well Monikroc, but was not sure it would help, but now I see the wisdom in doing this. Just curious though, why do you suggest 8 pips, wouldnt it be one long limit order that is 2 pips north of the Open price and one that is 2 pips south of the Open price? Or, would the bid/ask spread cause them to automatically cancel each other out?
  • #5,717
  • Dec 15, 2011 11:43am Dec 15, 2011 11:43am
Hello smart gxl , It is at tony's suggestion that you get in when the market moves 8 pips then get in long / short 5 sec chart....
  • #5,718
  • Dec 15, 2011 12:54pm Dec 15, 2011 12:54pm
Quoting monikroc
Hello smart gxl , It is at tony's suggestion that you get in when the market moves 8 pips then get in long / short 5 sec chart....
8 pips...I thought the official system is to watch for 2 pips?
  • #5,719
  • Dec 15, 2011 1:30pm Dec 15, 2011 1:30pm
Ok I just re-read the document on Page 1, and you are right - it doesnt say anything about looking for 2-pip movement, but it does mention the big 8-10 pip 5-second candles....so apparrantly I have done it wrong up till now, LOL!! Thats ok though, because I have made money with this so far, but as of tomorrow I will start using the correct strategy, with the Limit Order Entry technique!
  • #5,720
  • Dec 15, 2011 5:39pm Dec 15, 2011 5:39pm
Cześć!

1) I think that Smart have right about that 2 pip candle. I remember that new version of system is about jumping into the trade in INITIAL direction of the market, but lets wait for Tony.

2) I have a problem with setting proper SL for my trades. I'm using ECN broker. Usually spread during NY/London open is about 0,3 pip or less and my commission is about 0,7$ for opening and closing trades. So should i do something like that:
0,7*2(open/close commission in pips)+0,3(spread)=1,7 total cost of trade without SL. So should i set my SL at 0,3 pips to have total trade cost of 2 pips?
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